FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * POPEJOY WILLIAM J   2. Issuer Name and Ticker or Trading Symbol NEW CENTURY FINANCIAL CORP [NEW] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 18400 VON KARMAN, SUITE 1000 3. Date of Earliest Transaction (Month/Day/Year) 06/30/2005 (Street) IRVINE,, CA 92612 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 06/30/2005   M   15,000 A $ 14.53 18,217 D   Common Stock 06/30/2005   M   10,000 A $ 26.97 28,217 D

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Stock Option (Right to Buy)

$ 14.53 (1)

06/30/2005

M

15,000

(2)

11/05/2012

Common Stock

15,000

(3)

7,500 (1)

D

Stock Option (Right to Buy)

$ 26.97 (4)

06/30/2005

M

10,000

(5)

05/21/2013

Common Stock

10,000

(3)

5,000 (4)

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
POPEJOY WILLIAM J 18400 VON KARMAN, SUITE 1000 IRVINE,, CA 92612	X

Signatures

Jennifer Jewett (Attorney-in-Fact)		07/06/2005
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	This stock option grant was previously reported on a Form 3 filed on November 5, 2002 as covering 15,000 shares at an exercise price of $21.80 per share. On July 1, 2003, the stock options remaining under this stock option grant as of June 12, 2003, the record date of the 3-for-2 split, were adjusted to reflect the stock split.
(2)	This stock option grant vests as to one-third of the total number of options on each of the first three anniversaries of the grant date. The portion of this stock option grant exercised by the reporting person on June 30, 2005 vested as follows: 7,500 shares on November 5, 2003 and 7,500 shares on November 5, 2004.
(3)	This column is not applicable.
(4)	This stock option grant was previously reported on a Form 4 filed on May 21, 2003 as covering 10,000 shares at an exercise price of $40.45 per share. On July 1, 2003, the stock options remaining under this stock option grant as of June 12, 2003, the record date of the 3-for-2 split, were adjusted to reflect the stock split.
(5)	This stock option grant vests as to one-third of the total number of options on each of the first three anniversaries of the grant date. The portion of this stock option grant exercised by the reporting person on June 30, 2005 vested as follows: 5,000 shares on May 1, 2004 and 5,000 shares on May 1, 2005.

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